May 31, 2017

Your Advocacy

By Tiffany Whittaker
GolderCare Solutions

Help for the Aging Veteran

Whether you are a Veteran or family of a Veteran, you might have heard that obtaining benefits can be quite the task. I’m hoping to shed some light on this subject. First things first, to any Veterans reading this article, THANK YOU FOR YOUR SERVICE!

Many people we talk with are frustrated because they weren’t aware of the benefits available to them. There are many benefits but, for this article, I will zero in on the
following:

Survivors Pension (Aid and Attendance) – “The Survivors Pension benefit, which may also be referred to as Death Pension, is a tax-free monetary benefit payable to a low-income, un-remarried surviving spouse and/or unmarried child(ren) of a deceased Veteran with wartime service.” http://www.benefits.va.gov/pension/spousepen.asp

Pension Benefits (Aid and Attendance for Veteran) – “Veterans and survivors who are eligible for a VA pension
and require the aid and attendance of another person, or are housebound, may be eligible for additional monetary payment. These benefits are paid in addition to monthly pension, and they are not paid without eligibility to Pension. Since Aid and Attendance and Housebound allowances increase the pension amount, people who are not eligible for a basic pension due to excessive income may be eligible for pension at these increased rates. A Veteran or surviving spouse may not receive Aid and Attendance benefits and Housebound benefits at the same time.” http://www.benefits.va.gov/pension/aid_attendance_housebound.asp

VA Aid and Attendance is NOT an entitlement program. You or your spouse must meet service criteria as well as asset and income criteria, and you must have unreimbursed medical expenses. Unreimbursed medical expenses are “out of pocket” medical expenses not covered by insurance that were paid out for the Veteran, the veteran’s spouse, or the veteran’s dependent child.

Compensation Benefits (Disability Compensation) – “Benefit paid to Veterans with disabilities that are the result of a disease or injury incurred or aggravated during active military service. The benefit amount is graduated according to the degree of the Veteran’s disability on a scale from 10 percent to 100 percent (in increments of 10 percent). Compensation may also be paid for disabilities that are
considered related or secondary to disabilities occurring in service and for disabilities presumed to be related to circumstances of military service, even though they may arise after service.” http://www.benefits.va.gov/COMPENSATION/types-compensation.asp

The benefits listed above are as explained by the VA website and are subjective; they may not apply to your specific situation. The essentials you should know in addition to those already mentioned are as follows:

1. VA Aid and Attendance is ideal for In-home care or Assisted Living.  This level of care is generally an unreimbursed medical expense that will assist in qualifying you for benefits. Independent Living costs do not have a care level and are not accepted as an unreimbursed medical expense. VA Aid and Attendance is a great resource to utilize for these lower levels of care.

2. The cost of care in a Nursing Home is significantly more than that of Assisted Living or In-home care. Long Term Care/Institutional Medicaid would be a better resource to help pay for this level of care as VA Aid and Attendance benefits would not likely cover your care costs.

3. I cannot say this enough – Under the current rules, if you are seeking Aid and Attendance, you should sell (for fair market value) or transfer (to a qualified trust) your house before making application for VA benefits.

4. When you’re ready to make application, your local Veteran Service Officer is the best person to assist with the process and documentation necessary.

It’s easy to see why one might misinterpret the VA rules. For example, there is an asset cap when applying for Aid and Attendance. With that said, this guideline goes beyond a simple asset review. The VA also takes into account your age and an approximation of how long your assets will sustain you.  The published asset level is only a starting guideline.

All benefits require certain criteria be met.  Know what benefits you qualify for. Given the current rules of the VA, you can meet those required criteria if you have a plan. Let us be your guide to ensure you receive the benefits you deserve.

Tiffany Whittaker is a Benefits Advocate for GolderCare Solutions. She uses her diverse knowledge and experience in benefits planning to advocate for seniors and those who are disabled.  GolderCare Solutions provides long term care solutions for both Iowa and Illinois clients.  You can reach Tiffany at GolderCare Solutions Unlimited, LLC (309) 764-2273

Filed Under: Finance, News, Retirement

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